Atta Africa Finacial Update

In 2015, the World Economic Forum on Africa will mark 25 years of change on the continent.

Over the past fifteen years, Africa has demonstrated a remarkable economic turnaround, growing two to three percentage points faster than global GDP. Growth is generally expected to remain stable above 5% next year, buoyed by rising foreign direct investment flows, particularly into the natural resources sector; increased public investment in infrastructure; and higher agricultural production.

With the world’s largest youth demographic, Africa’s working-age population is expected to double to 1 billion in the next 25 years, surpassing both China and India.

2015 is also significant for Africa, as it marks the end of global, regional and local efforts to meet the Millennium Development Goals aimed at eradicating poverty.

Tanzania is looking to ban gem exports

  • Tanzania will temporarily ban exports of gemstones to strengthen the domestic market and transform Arusha into a gemstone centre
  • Tanzania is rich with national resources and renowned for tanzanite, spinel, sapphire, ruby and garnet

 

Lake Kivu to power Rwanda

  • Located on Rwanda’s west border, Lake Kivu is soon to be another source of energy for the small country
  • The lake stores 60 billion cubic meters of methane gas which the Rwandan government is seeking to extract for use as a power source
  • The lake has the potential to produce up to 800 megawatts
  • The methane is 250 meters underneath the lake, and to extract it, engineers lower a pipe to just about the layer of dissolved gas